From the Front Lines of MBA Recruiting
By BankersBall on Oct 20, 2008 in Interviewing, M.B.A.: means business, a**hole
Banking interview slots for full time roles are reportedly down 34% at one top b-school.
A reader writes in with some dismal news from the MBA recruiting front. Banking interview slots are reportedly down 34% at the University of Chicago, according to an email from the Associate Dean of Career Services, sent to all 2nd years at the top program.
Can someone else at the U of Chicago B-School verify this?
In investment banking, Piper Jaffray canceled all recruiting events and interviews, and BMO canceled their second-year interviews. Blackstone has canceled on-campus interviews, but they have told us they will host selected phone interviews. UBS will host off-campus interviews for Chicago and they’ve posted openings for LA and San Francisco instead of conducting on-campus interviews for all. Houlihan Lokey is conducting videoconference interviews for their London office. Harris Williams canceled their on-campus interviews because they only received a couple of Chicago GSB applications. The net result is that we are down 34% in banking interview slots, but please don’t lose sight of the fact that several of these “losses” continue to seek Chicago talent.
In investment management, Copia Capital will wait until later this year to make any hiring decisions. Fidelity has canceled their equity quant schedule, and Fred Alger canceled after their interns accepted full-time offers. T. Rowe Price combined their International and Investment Analyst positions. The bottom-line is that we are down 30% in interview slots.
Consulting was up slightly, due to new firms recruiting at the school, while corporate finance and general management job interview slots were up. Work easy, play easy? via Lion & Gun.
Other MBA students out there, let us know how the recruiting season is going below-
On Oct 21, 2008, UC Second Year said:
It’s accurate. Career services sent it out at 6:19am on a Saturday morning, presumably in order to bury it.
On Oct 21, 2008, Bill said:
This was expected. The salaries paid to mba executives is way over what is deserved and in times of global recession, this is quite “normal”.
The era of entrepreneurship awaits the mba’s !
On Oct 22, 2008, dave said:
what’s the situation like at harvard and wharton? i heard it’s not as good as the last several years, but that recruiting is still reasonably solid.
On Oct 24, 2008, TomC said:
I know for undergrad that both Piper and HW are recruiting as I made the final rounds for both……….
On Oct 25, 2008, AltESV said:
I’m a first-year at Columbia Business School, and recruiting is pretty solid for summer internships, but very few banks are interviewing second-years. They took what they wanted from their summer classes (and some took very few – e.g. Goldman). For first-years, the only banks that have cancelled events (so far) were Lehman and Wachovia. Some places admit that they will be hiring less than last year, but they are all still hiring. Interviews don’t happen until January for us, so no real visibility on that yet.